The joint blockchain cloud computing enterprise of computing large AMD and Ethereum-focused improvement agency ConsenSys has acquired $20.5 million in funding.

In response to a June 25 announcement, AMD and ConsenSys’ W3bcloud three way partnership obtained the funds by means of the sale of convertible notes to the founding companies and a number of other household workplaces within the United Arab Emirates. Jörg Roskowetz — the top of the blockchain enterprise unit at AMD — stated, “Parallel and distributed computing targeted on blockchain use instances is a fast-growing section of the trade.”

W3bcloud’s co-founder and CEO Sami Issa instructed Cointelegraph, “AMD will design the high-performance {hardware} applied sciences required to optimize for the decentralized computing infrastructure.” ConsenSys, however, will present blockchain software program options and interact in analysis and improvement efforts.

A lot wanted infrastructure for a rising ecosystem

Sami defined that the blockchain ecosystem wants industrial grade computing infrastructure to scale and attain mass utility. He identified that the presently accessible cloud infrastructure just isn’t optimized for Ethereum transactions and decentralized workloads. He stated that the agency is open to work on blockchains aside from Ethereum, however is for now specializing in this community as a consequence of its market’s dimension.

This primary funding spherical is supposed to finance the event of W3bcloud’s first Ethereum information facilities. Issa defined that he believes the platform’s rising ecosystem wants such infrastructure:

“The trustless, permissionless and decentralized economic system requires strong and devoted information facilities to scale. W3BCLOUD brings collectively the pre-eminent GPU producer and the main blockchain developer to construct the compute infrastructure for the blockchain economic system.”

Issa defined that the corporate plans to supply enterprise grade decentralized pc infrastructure. He additionally famous that the GPU infrastructure could be additionally used for extra conventional functions comparable to machine studying, storage, rendering and video transcoding. He stated that W3bcloud is already in talks with a number of potential prospects.

Cloud platforms begin providing blockchain companies

As blockchain adoption continues progressing at an more and more quick tempo, a number of cloud computing platforms began providing companies that leverage this new know-how.

As an illustration, in late February 2019, Google Cloud’s platform market added the event software program of corporate-oriented cryptocurrency Ontology (ONT).

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